At the end of female reproductive life, the ovaries are out of primordial follicles. This means, that oocytes, granulosa cells, and thecal cells are no longer present. After menopause, women have very low estradiol and progesterone levels and thus (by absence of their negative feedback) high gonadotropin levels.
I. Menopausal women stop producing estradiol.
II. Androgen levels rise after menopause.
Extra info: Menopausal women still have low plasma estradiol concentrations. This estradiol is produced by stromal cells in ovaries and is derived from conversion of androgens produced by the adrenal gland. Androgens produced by the ovaries are hardly converted anymore into estrogens and thus androgen levels in the plasma rise.